Phreesia (NYSE:PHR) Reaches New 12-Month High – What’s Next?

Phreesia, Inc. (NYSE:PHR)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $30.02 and last traded at $29.65, with a volume of 498053 shares changing hands. The stock had previously closed at $28.43.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PHR. Robert W. Baird cut their price target on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $24.00 to $32.00 in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Friday, January 10th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Phreesia presently has an average rating of “Buy” and a consensus target price of $31.15.

Phreesia Trading Up 5.4 %

The company has a market cap of $1.74 billion, a price-to-earnings ratio of -20.39 and a beta of 0.96. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $23.59.

Phreesia (NYSE:PHR) last posted its earnings results on Monday, December 9th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $106.33 million. During the same period last year, the firm posted ($0.58) EPS. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts predict that Phreesia, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Phreesia

In other news, COO Evan Roberts sold 10,716 shares of Phreesia stock in a transaction on Monday, January 27th. The shares were sold at an average price of $27.48, for a total value of $294,475.68. Following the transaction, the chief operating officer now directly owns 764,307 shares of the company’s stock, valued at $21,003,156.36. The trade was a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Linetsky sold 11,685 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $27.48, for a total transaction of $321,103.80. Following the completion of the sale, the senior vice president now owns 231,271 shares of the company’s stock, valued at approximately $6,355,327.08. This trade represents a 4.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,173 shares of company stock worth $4,221,400. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Phreesia

Hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Phreesia in the 4th quarter valued at about $30,000. International Assets Investment Management LLC grew its stake in shares of Phreesia by 2,179.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares during the last quarter. BankPlus Trust Department purchased a new position in shares of Phreesia in the 4th quarter valued at approximately $34,000. Venturi Wealth Management LLC acquired a new position in shares of Phreesia in the fourth quarter valued at approximately $76,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Phreesia by 154.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,442 shares of the company’s stock worth $89,000 after purchasing an additional 2,090 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.